UFCThe Ultimate Fighting Championship (UFC) is a U.S.-based mixed martial arts organization, recognized as the largest MMA promotion in the world. The UFC is headquartered in Las Vegas, Nevada and is owned and operated by Zuffa, LLC. This promotion is responsible for solidifying the sport's postion in the history-books.
UFC is currently undergoing a remarkable surge in popularity, along with greater mainstream media coverage. UFC programming can now be seen on FOX, FX, and FUEL TV in the United States, as well as in 35 other countries worldwide.

He does have a chance, he does have good BJJ, and to me it didnt really seem like Hughes was trying to take GSP to the ground. I think like in his pre fight interviews when he was saying his punching is much improved, he wanted to stand and trade.

Hughes KNOWS he's good on the floor, and winning 8 consecutive fights may make you want to try something else and improve elsewhere like standup. Which to me seemed like he wanted to do and got OWNED.

So its not like GSP cant be taken down, i dont remember seeing the BJ Penn fight so cant say how great GSP is at takedown defence but im shure he will work on it like Tim Sylvia did.

But all in all, his chances are slim, and if he did win im sure he would get torn apart in a re-match.

No chance whatsoever. The only chance Serra would have would be on the ground, and a very slim chance at that. Matt Hughes couldn't take GSP to the ground, not even close, and he has legendary takedowns and slams. Serra is much smaller than Matt Hughes or GSP, he has no business fighting at 170 (though I don't blame him, for the opportunity at a title you gotta fight at whatever weight). In a striking match (which is what this will be since Serra won't be able to take GSP down) Matt Serra has zero chance. GSP will destroy him, it won't even last 1 round.

Serra is gonna get knocked the fack out... gsp is too intense for anyone to beat him.. its gonna take a newcomer to the ufc with some actual talent on their feet to give gsp a run for his belt. matt hughes is still easily the 2nd best in the weight class n he WONT beat gsp if there is a rematch